2 replies to this topic

[PIK.]

Clear drop out of the symmetrical triangle pattern and move below 50 MA. Starts to increase probabilities for continued weakness in this area. Trade price, but this is a good risk assessment tool. Longs may want to consider booking some profits and/or adjusting stops.


http://stockcharts.c...38949121,Y].gif

[SilentOne]

Hi Betel, I agree and a great chart/tool for the sector. I was stopped out of many positions yesterday and will have to now wait for the green light given by this ratio again. I still hold many positions LT, but the more liquid stuff is tradeable. Speaking of liquidity, I wonder if the general market is about to correct a bit more after Thanksgiving? When I see miners weak like this in the face of a strong gold price, it is usually a precursor to broader selling. I also wonder if the oil sector (particularly its equities) has started a new leg which can also drain capital from the PM sector. cheers, john

Edited by SilentOne, 24 November 2004 - 09:04 AM.

[PIK.]

Ratio chart gave the warning again prior to the sell-off. Its going to need some work to re-group from here.